UAE and Saudi joining BRICS, what are your thoughts on the effects of this?

[jafo]

@Martin Everson , if you don't mind, you can DM me with the answer to avoid‌ dragging this thread off-topic. I think I know what you mean, but just in case‍ I overlooked something.

What Ponzi scheme did they invest in?

PS. Learning = earning 😉

 

[Martin Everson]

https://observer.com/2019/05/warren-buffett-berkshire-hathaway-scammed-ponzi-scheme-dc-solar/

Btw people‌ only thinking of Saudi and UAE joining BRICS. But I feel Egypt is equally important.‍ Egypt controls the Suez Canal through which 12% of of total global trade of all⁠ goods passes through. That canal will soon be on team BRICS. These new members were⁤ not just random picks 😉.

 

[MagicMatt]

Long-term decline of the dollar.

Good for gold and silver.

 

[uranium]

There is a misconception of gold as investment.
We all know that gold is true‍ money, but is just an asset that hold value, your suit that cost 1 ounce⁠ today, will cost 1 ounce after 10 years. But what people don't know is that⁤ gold price has always been manipulated by central bank. They decide its price.
I rather⁣ invest in assets that produce.
https://www.kitco.com/news/2022-05-...ustra-but-suppression-can-t-last-forever.htmlListen to the boss himself

 

[jkl197]

looks like USD is still in fashion

https://sputnikglobe.com/20230827/e...rnational-settlements---swift-1112922800.html
you can find the same article on‌ bloomberg and many other websites

 

[jafo]

Totally normal! I‌ have an older long-time friend who I've personally warned endless amounts of times since the‍ late 70s about the dangers of smoking. He buried his parents and older brother due⁠ to smoking-induced lung cancer. He's been battling the harmful addiction for decades. He's gone through⁤ countless treatments.

For most people, it's hard to deprogram from propaganda (e.g. doctors smoking on⁣ TV ads & recommending smoking as part of a healthy diet) & free oneself from⁢ debilitating habits.

If you know, you know! 😉

 

[BalnearioCamboriu]

Yeah, the amount of the‍ trades in the non-dollar currencies in SWIFT has declined -- India, Russia, China, UAE ....have⁠ been moving to trades in the local currencies, without SWIFT. And because of this, the⁤ percentage of the trades left in dollar in SWIFT has, logically, increased.

CIPS or SPFS,⁣ for instance, are used make trades outside of SWIFT.

 

[carlosbl]

I think it could significantly reshape global economic dynamics:

• Their addition might shift global trade‌ routes, potentially boosting intra-BRICS trade.
  
• Both countries could channel wealth into BRICS' initiatives, and in‍ turn, attract more investments from BRICS nations.
  
• Their financial power might accelerate BRICS' measures about⁠ reducing US dollar dependence, potentially challenging the USD's global dominance.
  
• And finally a fortified BRICS⁤ could serve as an alternative to Western economic institutions, influencing global decision-making.
  

The last 2⁣ I think could have more impact.